German Jobless Rate Flat at 4.5%

German seasonally adjusted harmonised jobless rate remained unchanged at 4.5 percent in October, staying for the third consecutive month at its lowest level since 1981. Unemployment edged down while employment rose slightly.

Compared to the previous month, the number of unemployed persons declined by 0.5 percent to 1.87 million from 1.88 million in September. Meanwhile, employment went up by only 0.1 percent to 40.04 million people from 40.00 million in the previous month.

Compared with October of 2014, unemployment dropped 10.1 percent from 2.08 million people while employment rose 0.4 percent from 39.88 million people. 

Youth unemployment rate went up to 7.1 percent, the same as in the previous month and from 7.4 percent a year earlier.

Separate data from the Labour Office showed the number of unemployed persons fell by a higher-than-expected 13000 to 2.772 million in November. The unemployment rate fell to a fresh record low of 6.3 percent.

German Jobless Rate Flat at 4.5%

Destatis | Joana Ferreira |
12/1/2015 9:11:04 AM